As many of the US's largest brands continue to feel the pinch of low consumer confidence, no new consumer credit and the downward spiral of 08 in to 09, many brands have revealed cuts and consolidation of their marketing dollars.   This week was especially hard for many on Madison Avenue as the ripple effect began to hit the agency world.

The social media channels were buzzing with hard copy of friends and former
colleagues who got the 2008 pink slips right before the holiday season.  Omnicom Agencies, BBDO, Organic, Proximity and Atmosphere BBDO PHD and TracyLocke are among some of the agenices who began to layoff their workforces.

While these cuts are devastating to the people who were cut; There is no time like the present to officially bring back the Madison Ave  Pink Slip Party

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So you ask - What is a Pink Slip Party?
It's not new, it is a term that dates back to 1910.  The Pink Slip Party is a grass-roots phenomenon that gathers together
hundreds of professional workers and sympathizers to honor the passing
of the many companies that have shut their doors or have down-sized
throughout this market meltdown. he party is about solidarity and networking and connects the pink
slipped (and those who are nervous about being let go) with HR and
recruiting professionals at companies that are still hiring.  Aside from the usual commiseration between people crying in their cocktails this is a chance to have some fun and take advantage of what every pink
slip party brings.  YES - this is the perfect place for headhunters, direct-hire companies, and recruiting
firms to learn a little bit more about what you do. What you offer and why you could be someones next hire.
Maybe you'll meet a new contact, find a new job, or invent something new and find people who want to ditch the big corporate scene for an entrepreneurial start up.

So now its time for the Madison Ave peeps to join the already partying Wall Street folks.

If at First You Don't Succeed, Celebrate, Re-invent and Start Again!  This crisis could pose the biggest opportunity to change the way the agency world serves the ailing US marketers. 

To follow the slew of cuts on twitter follow and report info to http://twitter.com/adagencylayoffs

If you were recently tossed off the island here are a few resources that can help you.

ON: The Return of the Pink Slip Party via @jpenabickley